http://www.legislation.gov.uk/ukpga/1992/48/schedule/2Finance (No. 2) Act 1992 An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.1992-07-16texttext/xmlenStatute Law Database2026-04-23Expert Participation2026-04-01 Finance (No. 2) Act 1992ActThe Corporation Tax (Taxation of Films) (Transitional Provisions) Regulations 2007reg. 3 11reg. 1(1) SCHEDULE 2Section 3.1In section 1(1) of the Customs and Excise Management Act 1979 (interpretation)—ain the definition of “occupier", for “means the" there shall be substituted “ includes any ”;bin the definition of “warehoused" and cognate expressions, after “that section" there shall be inserted “ and any regulations made by virtue of section 93(2)(da)(i) or (ee) or (4) below ”.21In section 93 of that Act (regulation of warehouses and warehoused goods), for subsection (1) there shall be substituted the following subsection—1The Commissioners may by regulations under this section (referred to in this Act as “warehousing regulations”)—aprohibit the deposit or keeping of goods in a warehouse except where the occupier of the warehouse has been approved by the Commissioners in accordance with the regulations and where such conditions as may be prescribed in relation to that occupier are satisfied;botherwise regulate the deposit, keeping, securing and treatment of goods in a warehouse;cmake provision with respect to goods which are required to be deposited in a warehouse;dregulate the removal of goods from a warehouse and make provision with respect to goods which have lawfully been permitted to be removed from a warehouse without payment of duty; andemake provision, in relation to goods which have been warehoused or are required to be deposited in a warehouse with respect to the keeping, preservation and production of records and the furnishing of information.2In subsection (2) of that section (further provision that may be made by warehousing regulations)—aafter paragraph (d) there shall be inserted the following paragraphs—daproviding for all or any prescribed purposes of the customs and excise Acts—ifor goods to be treated as warehoused where in a prescribed case they are in the custody or under the control of an approved occupier of a warehouse; andiifor goods to be treated, at such times before the excise duty point for those goods as may be prescribed or as may be determined under the regulations, as goods which are required to be deposited in a warehouse;dbproviding for the revocation of the approval under regulations of any occupier of a warehouse and applying, with modifications, any of the provisions of section 98 below in relation to such a revocation or to cases where such an approval is not renewed;bin paragraph (ee), for “to be warehoused" there shall be substituted “ required to be deposited in a warehouse ”;cafter paragraph (f) there shall be inserted the following paragraphs—farequiring goods which are required to be deposited in a warehouse or which have lawfully been permitted to be removed from a warehouse without payment of duty to be accompanied by such documents in such form and containing such particulars as may be prescribed;fbimposing or providing for the imposition under the regulations of requirements on persons concerned in any prescribed respect with the carriage of such goods to keep and preserve the documents that are required to accompany the goods;fcimposing or providing for the imposition under the regulations of requirements on a person so concerned to produce or cause to be produced any documents which are required to accompany any goods by virtue of paragraph (fa) above to an officer when required to do so for the purpose of allowing the officer to inspect them, to copy or take extracts from them or to remove them at a reasonable time and for a reasonable period;din paragraph (g), after “are" there shall be inserted “ required ”;ein the definition of “relevant business activity" after the word “are", in the first place where it occurs, there shall be inserted “ required ”.3In subsection (2A) of that section (compensation where removed documents are lost)—aafter the word “documents", in each place where it occurs, there shall be inserted “ or records ”; andbfor “(2)(j)" there shall be substituted “ (2)(fc) or (j) ”.4In subsection (3) of that section (power to make different provision for different warehouses and goods), after the word “for", in the first place where it occurs, there shall be inserted “ different cases, including different provision for different occupiers or descriptions of occupier, for ”.5After subsection (5) of that section there shall be inserted the following subsection—5AWarehousing regulations made by virtue of any of paragraphs (fa) to (fc) or (g) to (j) of subsection (2) above may also provide for the forfeiture of the goods in question in the event of any contravention of, or non-compliance with, any requirements imposed by or under the regulations with respect to any documents or records relating to prescribed goods.6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7In subsection (7)(b) of that section—afor “to be warehoused" there shall be substituted “ required to be deposited in a warehouse ”;bfor “or which are to be warehoused on drawback" there shall be substituted “ which are to be warehoused on drawback or which are otherwise to be treated by virtue of subsection (2)(da)(ii) above as goods which are required to be deposited in a warehouse ”.3In section 100(2) of that Act (forfeiture in respect of contraventions relating to warehousing)—ain paragraphs (a) and (b), after “for warehousing" there shall be inserted “ or are otherwise required to be deposited in a warehouse ”;bfor paragraph (d) there shall be substituted the following paragraph—dany goods are concealed at a time before they are warehoused when they have been entered for warehousing or are otherwise required to be deposited in a warehouse or when they are required to be in the custody or under the control of the occupier of a warehouse; or.4In section 100H(1) of that Act (provision that may be contained in REDS regulations), after paragraph (m) there shall be inserted the following paragraph—maimposing requirements with respect to, or to the production of, the documents required to accompany goods which are the subject of a transaction involving a registered excise dealer and shipper on any person concerned in any prescribed respect with the carriage of those goods, or providing for the imposition under the regulations of any such requirements;.5In section 117 of that Act (execution of distress against revenue traders in respect of relevant excise duty)—athe word “relevant", in the first place where it occurs in subsection (1) and where it occurs in subsections (2)(a) . . ., shall be omitted;bfor the words “a relevant" in subsections (1)(a) and (3) there shall be substituted “ any ”; andcthe definition of “relevant excise duty" in subsection (8) shall be omitted.6In section 129 of that Act (power to remit or repay duty on denatured goods)—ain paragraph (b) of subsection (1) for “warehoused" there shall be substituted “ chargeable with a duty the requirement to pay which has not yet taken effect ”; andbafter that subsection there shall be inserted the following subsection—1AThe reference in subsection (1) above to goods which are chargeable with a duty the requirement to pay which has not yet taken effect shall be construed as a reference to any goods which are warehoused or, in the application of that section in relation to a duty of excise, to any goods at a time, before the excise duty point for those goods, when they are chargeable with such a duty.7In section 170 of that Act (fraudulent evasion of duty), after subsection (5) there shall be inserted the following subsection—6Where any person is guilty of an offence under this section, the goods in respect of which the offence was committed shall be liable to forfeiture.8After section 170 of that Act there shall be inserted the following sections—170A1Subject to subsection (2) below, if—aafter the excise duty point for any goods which are chargeable with a duty of excise, a person acquires possession of those goods or is concerned in carrying, removing, depositing, keeping or otherwise dealing with those goods; andbat the time when he acquires possession of those goods or is so concerned, the duty on the goods has not been paid and its payment has not been deferred,that person shall be liable, on summary conviction, to a penalty of an amount not exceeding level 5 on the standard scale.2In proceedings for an offence under this section it shall be a defence to show that the person who acquired possession of the goods or was concerned in carrying, removing, depositing, keeping or otherwise dealing with them—aacted in accordance with the directions of, or with the consent of, the proper officer; orbwas not himself the person, or one of the persons, liable to pay the unpaid duty and at the time when he acted either—ihad no grounds for suspecting that the goods were chargeable with a duty of excise that had not yet been paid; oriibelieved on reasonable grounds that the duty had been paid or its payment deferred or that the liability to pay the duty had not yet taken effect.170B1If any person is knowingly concerned in the taking of any steps with a view to the fraudulent evasion, whether by himself or another, of any duty of excise on any goods, he shall be liable—aon summary conviction, to a penalty of the prescribed sum or of three times the amount of the duty, whichever is the greater, or to imprisonment for a term not exceeding six months or to both; andbon conviction on indictment, to a penalty of any amount or to imprisonment for a term not exceeding seven years or to both.2Where any person is guilty of an offence under this section, the goods in respect of which the offence was committed shall be liable to forfeiture.9In section 171(5) of that Act (which provides for the time at which duty is to be treated as payable where that cannot be ascertained for the purposes of any offence)—aafter “43 above" there shall be inserted “ or the relevant excise duty point ”; andbat the end there shall be inserted “ or, as the case may be, as if the time when the proceedings were commenced was the relevant excise duty point. ”10In section 13C of the Customs and Excise Duties (General Reliefs) Act 1979 (offence where relieved goods used in breach of condition), after subsection (4) there shall be inserted the following subsection—5Where any person is guilty of an offence under this section, the goods in respect of which the offence was committed shall be liable to forfeiture.Sch. 2 para. 1 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).Sch. 2 para. 2 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).Sch. 2 para. 2(6) repealed (1.1.1995) by 1994 c. 9, ss. 19, 258, Sch. 26 Pt. III Note (with s. 19(3)); S.I. 1994/2679, art. 3Sch. 2 para. 3 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).Sch. 2 para. 4 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).Sch. 2 para. 5 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).Words in Sch. 2 para. 5 repealed (1.7.1997) by 1997 c. 16, s. 113, Sch. 18 Pt. V(2); S.I. 1997/1433, art. 2Sch. 2 para. 6 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).Sch. 2 para. 7 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).Sch. 2 para. 8 wholly in force; Sch. 2 para. 8 not in force at Royal Assent see s. 3(2); Sch. 2 para. 8 partly in force at 9.12.1992 by S.I. 1992/3104, art. 2(1)(2), Sch. 2 para. 8 wholly in force at 1.6.1993 by S.I. 1993/1341, art. 2, Sch.Sch. 2 para. 9 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).Sch. 2 para. 10 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).Sch. 2 wholly in force; Sch. 2 not in force at Royal Assent see s. 3(2); Sch. 2 partly in force at 9.12.1992 by S.I. 1992/3104, art. 2, Sch. 2 wholly in force at 1.6.1993 by S.I. 1993/1341, art. 2, Sch.